How to approach network wide menus with BuddyPress

Does anyone here have any tips to share with regards to network-wide (“global”) menus, in particular in use with BuddyPress?

WPMU Tutorials recently did a pre-release of a networkwide menu plugin, but unfortunately I could not get it to work. I have yet to see the plugin in action, so if someone gets a working demo up, I’d really like to see it.

So now I ask you, WP/BP gurus: On a WordPress Network site with BuddyPress enabled, which would you recommend?
1 – Modifying the BuddyPress top-menu
2 – Using a plugin, like “Networkwide Menu”
3 – Custom coded menu